not concrete yet. haven't crossed. positive buyers doing most of the work. not panicking. not selling. looking to buy at better opportunities here. >> have good. thank you, terry. that's the first hour. we'll try and make sense of this and where we go from here on the second hour of the "closing bell." stay tuned. it is 4:00 on wall street. welcome to the second hour of the "closing bell." i'm bill griffeth along with kelly evans in for maria today. stocks rattled by the possibility of western military action in syria, kelly. >> that's right, bill. how we're finishing what's been a pretty ugly day on wall street. the dow pointed down by about 1 of 9 points. just shy of 170. keep an eye see how that settlesous. the news dasdaq taking the brun. and s&p closing just about on that 1630 line. >> the dow, of course, its worst

monthly decline since may of last year. wanted to go into this evening long on the markets? >> yeah. and yet despite that, we still haven't seen really big volume. people waiting for that. hasn't emerged. the dow jones industrial ended for a low on the day. a saying on the floor, go broke on light volume, too. the dow fully drifting south. market internaling, point out something. volume moderate. no stampede to sell like yesterday. a general buyers strike. put call to ratio, one, people aren't in particular trying to get protection, holding on to longs. vix at a six-week high. higher in june. look at the sectors hard-hit today. emerging markets. take a look. down 9% in indonesia. trading here in the united states. these markets are not open. making guesses about where they might open in the next day here. turkey and india all to the down side. airlines was among the worst performers thp an easy one when you have oil near a 18-month

high, you get declines. noticeable and these were down, these percentages, pretty much throughout the whole day. steady performers on the down side. a little flattening of the yield curve when you get interest rates moving to the down side. no surprise. banks down 2%, 3% even 4%. an interesting story. gold may have rallied and held on, but the gold stocks started to the up side and went straight down throughout the whole day. all of the big gold names and endened now 4% 5%. maybe they like gold. they certainly don't believe gold stocks is the way to play in amid the current global turn moil. an update on the nasdaq nyse tiff over what happened with the sip and arca on thursday. a lot of recushion and finger pointing going on. i spoke with nyse officials, nasdaq ish tos in the last few days. the question, on the timeline, who's to blame? we know this. a little bit of a problem with

the nyse arca matching engines trier to ty eprior with the sip down with the arca. timeline. 10:57, declared self help, accept 171:09, everything okay. revoked the self-help. what happened in the time period all of a sudden causes this prop. everybody agrees on something used up all the resources on the sip. something caused the sip to shut down. nyse, do not blame us. nasdaq this partly a problem with arca trying to connect to our system. a little bit of a fight going on. bottom line, the sec call add meet are for september 12th. you'll see, bill, a lot of pressure on all of the exchanges. on the nyse and nasdaq to upgrade their ability to test systems to more modern

standards. for uniform standards right now there's just a best practices standard that goes on, and i think you're going to see pressure. here's the problem. these exchanges are in terrible shape now. they're cutting staff. they're not adding staff. the sec is going to put a lot of pressure on these exchanges to improve technology, to improve technology testing, at a time when they're laying off people. i think that's going to cause a lot of pressure on them, and even more pressure towards consolidation. it's an ongoing story. more to say in the next couple days. back to you. >> clarify, bob, for those who don't know. arca, new york stock exchange's all electronics system. sip system, reporting system of the nasdaq, not communicating trades to price reporter and they're both saying it's your fault, no, it's your fault. that's what mary jo white at the sec has to solve and figure out. >> right. good way to put that. when the problem was the matching engines went down, a little piece went down at arca, electronics system here. tried to connect.

when it conseconnect whenconsen up, after that, problems. the question, exactly who's at fault? joining us, eric from russell investments. michael from yahoo! finance, and tim from a management group and rick santelli back as well. thanks for joining us. tim, i want to start with you, because if this sell-off has a lot to do with the situation in syria, that's one that frankly doesn't look like it's going to have an easy or quick resolutions. >> no. that's right, kelly. this is a big unknown at this point. this is probably the first reaction as far as the market based on the rumor, but if we, in fact, strike and attack syria, i think we're going to see more of this to come. obviously, dpee l obviously, depending what the nature of that might be. continuing military conflicts, potentially, in the middle east. and part of why we've been

trying to hang in around commodity exposure. >> rick santelli, the markets today. are they trading simply on syria? are they paying attention at all to fundamentals? the fears of taper talk? all of the things that have been spooking up to this point? what do you make of the market's message today? >> it's a combination. if we didn't have very weak data points along with the geopolitical forces, i don't think it would have been such a dynamic duo, lower global equities and high quality sovereign rates. to give you an idea, that fixed mcside is still running at a risk, a rate higher premium. the last time the dow was at this level was the 25th of june. where were ten-year note rates on the 25th of june? at 260. 12 basis points lower. the five year was at 149. three basis points lower. so it gives you a couple of issues to learn from. that the curve has a lot of

issues with steepening coming out, still stuck in there a bit, and that the interest rate complex probably will still give you more upside to higher rates when they reverses or we get strong data than the opposite when we have geopolitical issues and we did. >> and picking up on that, eric, do you guys take a moment and like now saying, perhaps maybe we do see the ten-year rally back to 2.6% to rotate back into bonds? >> well, i think they're trying to time the interest rate market now as a hazardous thing at best. a neutral position makes sense. own the amount of bonds that you want to own over your long term investment horizon. that's 40% for a lot of investors. own 40%. because we do think that equities are going to rally and all things equal, we're actually poised to buy in the dips in these mashgtsd and view today as a dip. >> yes. that's for sure.

and michael, in some ways you feel this is a, an excuse for traders to sell here, to use these geopolitical concerns to achieve that 10% correction we've been waiting for all this time? >> yeah. another on the pile of excuses. i don't know if it's gets as deep at 10%, but the dow stocks at sale all month. the dow badly yourt performing the nasdaq and to some degree the s&p masked by the strength and coal growth stocks in the last several weeks's to me, one more excuse aside from august, september, seasonal weakness. obviously, the fed indecision on the horizon in terms of policy and new chairman, and so i do think that this is basically another excuse for -- i am focussed on the investor sentiment response in the past few pullbacks of 35%, you've had people rush to a fearful stance. pretty quickly. i think you're seeing inklings of that. not a fat pitch just yet but

this relief rally in the yield can complex makes a lot of sense in this contest. >> mike's right. syria has cost the dow in the last day and a half 250 points, but the dow is down 4.5%. so far this month. it's really been almost straight down. and i make a lot of the fact that the volume is very much on the light side and true, yesterday the lightest volume day of the year for a full day, but there's a lot underneath all of that light volume moving south. a lot of technical damage that's slowly being done. yesterday we breached the 50-day moving average in the s&p and these kinds of technical levels do start to matter at this point. i'm not trying to poo, poo the light damage. ip see the damage. >> what do you mick of that, people are pointing out the trend showing a reading of almost 2.7. in other words, a lot of selling pressure in the market. seeing voluming pick up on the declinance and how much further in that case could we have to go here? >> well, we've noticed and certainly are concerned about

that sentiment weakening that we've been observing collectively over the last month or so. we see, though, fundamentals from an equity market point of view as being intact. we think valuations are reasonable, very much, more now, that with no inflation on the horizon we're actually looking for equity gains over the foreseeable future, but this is probably going to be a continuation of a consolidation period over the next month or so. >> yeah, boy. i haven't seen that trend number two, you just mentioned that, kelly. >> big one. >> same tweet you did. 2.67. a lot of selling pressure, up and down volume. and want a day to report earnings? s from tivo, we have the numbers. how do they look? >> tivos revenue in line with expectations. $71 million excluding litigation issues. look at earnings per share, came in at a loss of 9 cents per

share, a penny better than wall street expected. the year ago quarter the loss, 23 cents per share. that is improvement. now, the stock is moving, or had been moving marginally higher after hour. appears to be pop downing. popping around. looking at the guidance for the third quartercal year, upcoming quarter. everybody is the in technology, the range of $80 million to $82 million appearing to be heavier than wall street expected. some comparison questions. it seems to be stronger than expected and the company's net income is expected to be in the range, the company projects net income in the range of $6 million to $8. . wall street expected a loss in the upcoming quarter. also a stronger than expected. sue and -- bill and kelly, back to you. >> thank you, julia. and investors trying to figure out what to make of that one. keep an eye on teivtivo. just launched that romeo.

>> i want to try that. romeo, romeo, wherefore art thou? >> exactly. much more ahead on this jam back packed edition of the "closing bell." and what impact syria can have on the financial markets? it could get worse. keep it right here for the affect of your investment on that front. and syria, worry was not bad enough. another battle looming in washington. of course, over the debt ceiling, as treasury secretary jack lew, should be very concerned. and with millions of college kids headed back to school this week, a panel of pros with savvy ideas how to pay the sky-high tuition bills. don't miss the second installment of our week-long series "school days: the changing face of college." you're watching cnbc, first in business worldwide. ron: i'm never alone with scottrade.

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the situation in syria is taking its toll. look at the numbers, oil surging nearly 3% here in the united on concern, the u.s. may be inches closer to a potential military strike on syria, perhaps as early as thursday.

kelly? >> bill, peter schiff is saying this is bad news for an already sluggish u.s. economy while david haile of david haile global economics doesn't see an immediate economic threat. peter, first to you. never super optimistic butt tay seaying this makes things worse? >> depends on your perspective. i own a lot of oil. i thought oil prices were going up anyway. clearly the catalyst for a $3 move today is syria. if it wasn't syria, it would have been something else. oil prices are going a lot higher than $109 a barrel and it is a big negative for the u.s. economy and what's happening right now in syria is just one more weight on a weakened economy. we can't bear the weight we have let alone additional weights placed upon us. >> david, why don't you think higher oil prices would hurt our economy right now? >> if we had a large oil price a negative. bolster inflation, depress real income. a problem. what's unclear is why the syrian

conflict should lead to higher oil prices's syria itself two years ago produced only a couple hundred thousand barrels of oil. it's not a factor. the real danger posed by syria is, it lies in a region where a lot of oil is produced. it's a conflict in some ways with iran and saudi arabia. if they had a correct conflict, that would mean much higher oil prices. >> you said, concern that it got much higher. how much higher before you get sweaty palms about the economy? >>s 20 $25 a barrel. $20 a barrel. >> going higher? >> move to $110 to $125 a barrel, relatively soon. maybe in the next few months. over the next few years oil will take out the $150 barrel high we put in prior to the 2008 financial crisis and work closer to $200 a barrel. not because of syria. it's because of ben bernanke and whoever his successor may be,

because? dma japan, all the central banks around the world printing too much money, quantitative easing. inflation is causing oil prices to rise, not the other way around. i think when the fed gets a good look at what's happening with oil prices, buy stock prices going down, real estate prices turning south. corporate earnings going down, the employment picture will darken. another reason for the fed not to taper, aultimately might sav the market from a bigger decline, all the new inflaktion and the tapering talk is put back to sometime next year and come up with another excuse why they can't taper. >> whatever, because of the impact by the cuts that higher oil prices have, effectively for the middle and lower classes of americans who don't necessarily have stock investments to benefit, they'll see a standard of living shock. i want to ask, if what you're saying about oil prices headed to $250 a barrel is right, why,

if anything, does the market keep telling us it sees prices lower the further out we look into the contracts? >> first of all, i said up to 200. maybe go to 250. i don't know. i thought $150 to $200. yes, americans are going to suffer a declining standard of listening pt the consequence of quantitative easing. while i'm opposing it. the fed is destroying the starnt of living of middle class america, destroying their wages and yes, prices go up. look at oil companies. i know a lot of oil stocks and oil companies aren't making a lot of money. look at oil stock s going up. $100 a barrel is not high enough for the oil company toes economically replace depleting reserves. oil prices are much too cheap. inflation driving up the cost of exploring for oil. oil needs to be $150 to $200 a barrel for the oil companies to make decent profits. >> just saying, why is it, if you're saying oil is going to $200, do the four contract

reflect an oil price lower than where we are said to? >> the consensus is wrong. wrong about a lot of things. the consensus is wrong about gold. about the bond market. remember what people thought about internet stocks in 1999? or about real estate in 2007? whmp you have a consensus, it's generally wrong. so i'm not looking at what most people think is going to happen to the price of oil. i'm looking at what i believe is going to happen to the price of oil and i think i'm a better barometer than just the consensus opinion, historically it's proven to the wrong far more often than it's right. >> very good. gentlemen, good to see you. my best today. and not the being worry on wall street, syria. and jack lew, in a cnbc exclusive this morning. >> the president's been very clear. we are not going to be negotiating over the debt limit. >> if we're heading for another showdown in washington over the debt ceiling, is that the real threat of this market? we'll look at that coming up

next. and plenty of people say it is. also ahead, call it the old apple tree as the tech giants prepares to launch a trade-in program at its stores. we ask, whether you get more money from private buyers? pros and cons with this move. stay with us. [ marco ] i'm a student at devry university.

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nice exclusive. looks like the white house is digging in for another ugly battle this fall? >> they are. a convergence of several battles. the government funding, which runs out at the end of september. has to be suspended. the debt limit, and jack lew told me, yes, we'll negotiate over spending levels, whether to maintain the sequester but not negotiate over the debt limit because of what happened in 2011. take a listen. >> we are not going to be negotiating over the debt limit. congress has already authorized funding, committed us to make expenditures. we're in a place, the only were is, will we pay the bills that the united states incurred. it is, the only way to do that is for congress to act and act quickly. we don't need another self-inflicted wound, another crisis at the last minute. congress should come back, and they should act. >> i asked jack lew if he was 100% confident that congress and the administration would avoid a

debt crisis like 2011, and he said i know the leaders want to avoid it. nobody wants to repeat that, but i don't yet see a plan to avoid it. bill? >> and john, just curious. sorry, john, i want to ask you quick about larry summers as well. it's haunted people. still focused on. you're hearing from the white house that his nomination could be in weeks? >> well, kelly, here's the difference between people who are actually in the room with the president, as he makes that decision, and well-informed other people who are not in that same room. those people who are not in the room speculate like my source yesterday, who said, yes, i expect larry summers within a few weeks. asked jack lew about it, she in the room and said i'll keep my advice where it ought to be. in the oval office. >> he's now on the record. >> a tough one. the president's getting a lot of pressure not to appoint larry

summers at the taime. a tough decision either way. and jack lew, no negotiation on the debt limit. back in june, our own maria bartiromo sat down with john boehner who sits across from the president on this, and talk the administration would not negotiate on this issue. here's what speaker boehner's reaction was to maria's question about that. >> well, you know, i can say the sun's not going to come up tomorrow. but guess what? it is. the president can say i'm not going to negotiate on the debt limit. get over it. we're spending more money than what we're bringing in. we have to deal with this problem. if we're going to raise the debt limit we've got to do something about what's causing us to spend more money than what we bring in. so, guess what? we're going to have a debate and we're going to have a negotiation. >> so where does that leave us and which investors, what should they do if another debt showdown is coming in september? joining us, didn't mean --

professor, taylor, thank you very much for joining us. both of you, and first to you, john. look, you heard what john boehner had to say there. so is this the right strategy for the gop, when you've got a public already twice seeming have to back down? >> my view is, this is going to get worked out. i think john boehner is making a good point. that if you are going to increase the debt limit, think about the spending increases that are causing it. he'd like to link them together. consider them together. from an economic perspective, that makes sense. of course, we don't want to h e have, shut downs or violations of limit, and i think that it's possible to get around it. i would say the white house should think about the value of reducing spending growth in the future, as they asked for the debt limit increase. go a long way to avoiding a tough negotiation. >> you seem to remember. the last negotiations, the markets were royal in august of

'11, we had tremendous volatility where they went back and forth and in the end, no agreement and it led to the sequester situation. so why are you confident we're going get worked out this time? >> well, i think because they saw the success of the strategy before. face it the sequester, for that matter the 2011 budget deal, have reduced the growth of spending substantially. that's what the objective of these were. and that's going to be good for the economy, and reduces uncertainty. bupt in the meantime, you have to get over this hurdle here. i think they could. they recognize this is the way to go. you don't want to hurt the economy. you want to get some progress. >> yeah. mya -- okay. so if this is the argument that the gop is making, that they're going to say, no more spending 2348 we lower the debt ceiling or what have you, what is the democrats' position on this? >> the democrats, if you heard, the white house has been saying they're the no going to negotiate on the debt kriceilin.

john referenced this, john harwood referenced this in his interview. a lot of things will come to play together. we have to fund the government for the next fiscal year. a existerant coulding to squeeze out the wrong parts of government and not dealing with the parts of government that need fixed and the debt ceiling. my prediction, they're come to play together. the big question, will policymakers, on both sides of aisle know we need to deal with the fiscal challenges and medium in the long-term holding back the economy. are we going to punt like we have so many times before? are they goal to cobble together a deal that makes some progress, doesn't really fix the problem? or once and for all tackle the real issues of entime tlement reform, the aging population and put in place a sensible plan to get rid of crises popping up again and get our fiscal house in order helping the economy in the long term.

>> mya, sounds admirable, but what in the world has changed that would allow that to happen? that third option of yours? i mean, we are talking about the same politicians in washington, basically, who wrangled about this two years ago. >> yes, we are. i didn't say that that third option was the one that was going to happen. it's jut the one that we should want to have happen. >> what is most likely? what realistically is going to happen? a repeat of august 11? >> realistically, too much of a chance we're going to live along, cobble together small deals that won't really fix the problem and temporarily maybe extend some of these things. until congress gets tired of putting together packages that don't really fix the problem, and realize that there's fallout, political fallout, on both sides of the aisle, and economic fallout, because this economy cannot recover until it has some kind of a plan, some kind of understanding of where things are headed, because the lack of center right now is really keeping the economy from taking off, and so i feel like

we trying the wrong thing. hopefully sooner or later we'll try the right thing. >> my spider senses tell me it's not going to be pretty when it comes to october. we'll see. thank you, mya. we thank john taylor as well for joining us today. >> thank you. making the most from your apple iphone. apple, get this, is gearing up to start a trade-in program at its stores. would you be better off selling your iphone to a private buyer instead? we'll toss that around coming up here next. also straight ahead, in college no one wants to see an f, unlesses the word financial aid in part two of our special series, pros to help you navigate the murky waters of tuition. more news you can use, and you won't want to miss it. de execut, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments.

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wall street a wash as uncertainty looms. big movers, here's dom. >> there weren't many companies spairi insparing in the sell-of. the down side. rising oil prices on that geopolitical tension in syria. really took its toll on the transportation stocks all 20 members of the dow jones transport index lower on the day. freight companies, trucking

companies all down side. movers, u.p.s., fedex, ryder, big down side days. even 0en a day when gold prices continue to march higher, the gold mining stocks couldn't find footing. big names like barrett gold, newmont mining, gold corps, all positive by the cloezing bell and leading was the tech heavier nasdaq composite down over 2%. some of the most heavily weighted stocks that contradicted to that sea of red. going's sayres down $16 a share. priceline.com down $14 a share or about 1.5% and, of course, there's the big apple, down nearly 3% or $14 a share. bill, a lot of red. especially when it comes to the tech-heavy stocks especially in the nasdaq. >> indeed. thanks, dom. few people would ever liken apple stores to car dealershipance but that soon may change. reports circulating that apple is soon to launch a trade-in

program for some of their products. they'll give you a credit toward a new iphone, for example. >> and, bill, the problem is that there are plenty of websites like ebay where you can see the devices are fetching good money and maybe more than apple might offer. the question we ask now, whether the apple trade-in program will be a win for consumers for the convenience or just a way for apple to reduce its bottom line? haggling a bit over trade-ins. having run or own dealerships, saying, go for the big bucks, whether a private sale or owner, and jim thinks a win for both. why are you skeptical here? >> i'm sorry. could you say that? >> why are you skeptical about the program that apple is introducing? >> why -- do i think it's a good thing? >> yes. >> put it this way. nicole, if i'm a consumer, would i be better to hand apple my phone back, tra ed it in for the new product or go to one of these existing places where i

can sell it to a private buyer? >> i think it's important when we're relating this to cars that consumers take their time and really look around and shop to see how much more money they'll get from the dealer versus a private purchaser. because oftentimes you can go to a private purchaser, but you get more convenience, and you get more of the upgrade and the options of a newer car, or a newer used car, and you also get the most overlooked advantage, which is the tax advantage. >> right. you know, jim, i know you think it's good for both to do this, for apple. good for apple. good for the consumers. face it, you've been in the car business for a long time. the margins are much better for the used cars, if you take the trade-in from that consumer, bringing that car in. isn't it going to be the same thing for apple? and i going to get a good deal as a consumer walking in the door with an old iphone looking

for a new iphone? wouldn't i be better off going to ebay or someplace else to sell that old iphone first? >> absolutely not. not a warrant. not a certified product or a reconditioned product backed up by the apple corporation. just like in the car business, when you buy a certified vehicle from one of our pre-owned lots -- >> you're look at the guy that's walking in to buy that used iphone, but i'm talking about the guy, i have an iphone. i want to sell it. someplace before i buy the new iphone. am i going to get a better deal from apple's used deal or get a better deal by selling it in a private party transaction? >> you may get a slightly -- slightly more money in a private transaction, in the long run, a loser. >> why? >> the reason you'll be a loser is because you may get a little more money but not the benefits of dealing with the corporation directly.

and there is a lot of benefits to that. what do i mean by that? extended warrants. a really secure and -- an absolute confident deal. >> i'm not going to get that by selling it on ebay? >> how are you going to get that by selling it on ebay? >> i like to add -- >> how do you get that by selling it on ebay? >> nicole -- nicole, just curious. a lot of people for a lot of people they'll say, look, may i get $10,s 20ds if i went through the hassle of going through ebay and trying to find somebody else to pay me that. frankly, i don't have the time. rather walk into an apple store and take the convenience factor. in your experience, how much is the convenience factor worth? >> i think it's worth a lot and i think that it's not just to look at just what somebody's going to give you on your trade-in price. it's also looking at the whole deal in its entirety.

you want to really look at not just what you're getting as a trade-in on your car. you want to look at the dealer and say, you know, how much can you give me off on the other side of the deal? right? because it's the other side of the deal. so you're not just looking at focusing in on just your trade. that's a big mistake. on a consumer's part. you really want to look entirely at your whole deal and how you're coming out of that deal in total. for example, you know, if a dealer is going to -- the sale price of a car is $30,000, and they give you $10,000 for your trade, but it's worth $12,000, you're only taxed on that $20,000. so maybe it was worth $12,000, but you got it back in tax advantage. an upgrade in all of the features and new safety features, right? when you're going to trade in your phone, it's really like, you want all the new features and the bells and whistle, right? that's the trick. >> apparently apple thinks they've got it figured out. start it in a small amount friday and troll out big come

september. we'll find out how it, woulds one way or the other. thank you both for your thoughts today on this. >> thank you. >> phones in the new cars, bill. mooshing on, high school has never looked so good. hefty college tuition is taking its toll on commercial's students and their families. up next, part two of our week-long "school days" series. shedding light on the age-old question how to pay for college. you won't want to miss it. a story still to come that you can really sink your teeth into. fast food hits and flops and mcdonald's and subway add new items to their menus and one of the chains has a frenched fried burger, believe it or not. stay tuned. won't you? back after this. e when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on his portfolio. and with some planning and effort,

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if you don't have something important to say? ♪ breaking news. julia boorstin, what do you have. >> the p.r. person tweefted out, issue most likely the result of malicious external attack and working to fix. eileen murphy, tweeting under the name ny times eileen who is the "new york times" spokesperson does not have a fair verified account but confirmed this was an official tweet it from the "new york times" with nothing else to add. we have to remember, bill, this isn't the first time this happened. a couple weeks ago the "new york times" was brought down by an attack, some sort of a hack. we are waiting for more information.

in the meantime, noting the "wall street journal" tweeted out they have brought down their pay wall. back to you. >> i guess we bury the lead. i didn't hear what the lead was. they're site has gone down, again? >> the "new york times." sorry. the "new york times" site brought down again and the "new york times" confirmed this because of some sort of malicious attack. they have nothing else to add right now. but they say the initial assessment is that the result of a malicious external attack. yes, the "new york times" dotcom website, down again. >> amazing. hearing this more and more now, too. julia, thank you very much. kelly? >> thanks, bill. continuing our week-long "school days" series on the changes face of college. today's question, how to pay for college? financial aid? scholarshipsance grants or something else entirely? with us now, kim clark a senior writer in "money" magazine. and paying for college without were going broke, author, and mark cant witowits joining us

shortly. kim, first start with you. what should parents and students know before filing for the fafsa. >> two basic kinds of financial aid. there's loans, which you have to pay back, and there's grants, which is what everybody wants. grants or scholarships, free money. you don't have to pay back, and you can get grants and scholarships from government agencies. you can get them from colleges, and you can get them from local organizations or corporations. so there's three basic sources of grants. the single, most important thing to do fill out the fafsa. free at fasa.ed po.gov. >> i have two kids that graduated college not too long ago. frankly, we weren't looking at those schools likely to pay the most money, a school to fit their needs and interests, but how do i find out those schools that are likely to give them

some kind of a scholarship or grant of some kind? >> you want to look at see how the percentage need. websites like princeton review dot com listing ratings for over 600 schools, an idea how the schools are. filling out the facts and the other aid forms, many people think that's the first step to get in. the reality, the early as ninth or tenth grade, look to see what your chances are to get aid and position yourself to show greater need. >> it's never too soon. start early. as early as you can, there. >> mark, curious as well. a lot of people, and bill referenced this. when when they think about college, what do you want to do for your life? what's's the best college? should we think about the cost of education and choose options accordingly? >> and families should make sure

that they apply to colleges that they can afford, and total debt at graduation should be less than the annual starting salary. they should look at the net price, which is the amount of money that it's going to cost after you subtract just the grants. that's the amount of money you're going to have to pay from savings, income and loans to cove the college costs. >> mark, what about all the scholarships that go wanting? so many out there that are specialized in certain categories, that people never hear about. how do you really go about finding out about those scholarships? >> well, there are a variety of free scholarship matching services, like studentscholarshipsearch.com, where you can find scholarships that match your background. the scholarships that go unclaim, go unclaim bawd they can't be claimedap example one calmed the zolp scholarship. for a student at loyola university in ill born with the last name of zolp. most years they don't have

students. some years they have. you can't change your name to qualify. >> and the thing about this that's so difficult, and remember this going through the experience myself, is that when you're say a freshman or sophomore in high school, you can think big picture, what you don't know is whether there's a zolp scholarship at notre dame. it's difficult to know what the particulars are of each school and each program in order to know what you might identify for down the road. it's impossible. >> kim, what about -- kelly's question about, do we have it backwards? looking at our educational needs first, the money goes wanting. should we start with the money first and then think about our educational needs? >> right. well, one of the most expensive mistakes you can make in your life, of course, is to drop out of college. so, really, you should be aiming for the best college you can afford. right? bill, i wanted to get to your point. there are two kind of grants. one is awarded because of the students' merit and one because

of the students's need. i'm sure your family a pretty good income. maybe you wouldn't be considered needy. right? >> right. >> so your kids should be looking at colleges that award lots of merit aid. you can get list of those colleges on site like, lists of colleges on sites maybe princeton review or college data has excellent data. so you would be wanting to look at the schools that offer aid solely based on your kid's talent and abilities and grades and test scores. 70 or 80 percent of private schools kids get merit aid and there is a growing number of public schools like indiana university that are offering guaranteed scholarships if your kid high school a b plus, a minus average. you can get $5,000, $10,000 a year. >> i'm proud of both of my kids, got through college but i am

sure glad that is over. it's part two of our series on school days and we'll do it tomorrow as well. >> mcdonald's mighty wings garlic bread at subway are two new items but don't always appear to be mouth watering. >> stick around for our fast food review of hits and misses in fast foodla land coming afte that. [ male announcer ] it's time. time to have new experiences with a familiar keyboard. to update our status without opening an app.

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>> call it innovation or desperation. fast food giants like mcdonald's and subway are banking on new menu items. how do they taste? >> this is great news for wing lovers. mcdonald's rolling out its so called mighty wings starting september 9th, trying to boost sluggish sales. analysts thinking there will be plenty of interest as the wings did very well in test markets, has the potential to drive sales higher, they say. mcdonald's isn't alone in bringing new products to market. we found out just today that burger king will start offering

a french fry burger. this is a beef patty topped with fries. good news for people who think actually picking up a fry requires just too much effort. sometimes these new items do pan out. who would have thought that taco bell's dor eat toe's loco would do their best. 600 million sold. it boosted sales between three and five percent per store at launch. how about wendy's pretzel bacon cheeseburger. analysts telling us that even though it's priced a dollar higher, consumers like it and they're willing to pay more. guidance was pretty robust. all things being equal this burger is giving a boost to same store sales. not every new item is a big winner.

kfcs grilled chicken never sustained any sales, saying the grilled stuff didn't resonate with the core customer. >> i got it. how about an everything burger. you put the fries, you put the kitchen, the union rings on it. it's going to sell like hot cakes. put hot cakes on it, too. >> it sounds delicious. >> are stocks in for another brutal day tomorrow? >> market pros will weigh in tomorrow. stay with us. ♪

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>> happens tomorrow, 30 seconds on the clock for brian at wells far go advisers. we've got wet bush securities also. brian, what happens tomorrow? >> two sets of data coming out tomorrow. we're looking at the housing market, mortgage apps coming out. you had a backup in interest rates so that's going to be a focal. looking at the energy markets, big pop in oil today. the department of energy reports hits at 10:30 api came in with a boost. >> keer tin? >> we'll be watching retail names with earnings from expression and cheek oh,s. we're expecting a solid two q

for the outlook. they're up against easy compares with the big sweater miss from last year. chicos a weaker quarter. heavier promotions. we're two cents below consensus eps so looking for a weaker result. >> that's it for "closing bell." thank you for joining us. thank you, kelly. see you later. >> thank you, bill. have a great day. >> "fast money" is right now. >> bill and kelly were right because arrive from the nasdaq market site this is "fast money." i'm brian sullivan in for melissa lee. what a day. let's get stray to tight to the story. the treasury yields drop as peopleuy